National Underwriter's Guide to the E&S/Specialty Lines News


Traditional E&O Risks Emerge From Sustainable Construction

Professional liability exposures for architects, engineers and contractors arising from green-building construction are similar in many respects to traditional construction risks.

Green risks, however, have been elevated by the innovative design, experimental products and much higher owner expectations for “living” buildings, according to Jeff Slivka of New Day Underwriting Managers, who also notes that green E&O liability exposures are distinguished by unique economic damages, such as the failure to realize the expected tax credits or revenue that is lost when a building does not achieve a certain LEED certification level.



Argo E&S Restructuring Opens Internal Career Paths, Greater Broker Access
Argo Group recently announced an ambitious restructuring, combining its Colony and Argo Specialty operations into one unit now branded Colony Specialty. Louis Levinson, Argo’s E&S president, described the benefits of the change to NU on the day the changes were announced last month.

No NCOIL, NAIC Agreement On Surplus Lines Reform Law Implementation
State regulators and legislators failed to reach agreement on a model law needed to implement the federal legislation reforming and modernizing regulation of the surplus lines and reinsurance industries during the annual meeting of the National Conference of Insurance Legislators. Representatives of the National Association of Insurance Commissioners and NCOIL, however, said that if they don’t act to implement the law by next June, Congress is likely to step in.

Insurers Respond As Privacy Attacks Soar
Even though enterprises large and small are losing the battle against cyber attacks, specialty insurers are expanding coverages triggered by computer privacy breaches as rapidly as new enemies emerge to pursue new targets, experts said at this month’s international conference of the Professional Liability Underwriting Society.

Homebuilders Off The Hook In Florida Drywall Court Ruling
A Florida court ruling, if adopted by other judges and upheld by higher courts, could limit builders’ liability for damages caused by defective drywall, according to lawyers at an insurance industry trade group.

Most Program Biz Carriers Put Market Size At $20 Billion
One-third of specialty carriers surveyed by reinsurance intermediary Guy Carpenter put the size of the program business market over $40 billion, while 90 percent said the market volume is at least $20 billion.

Coming Up Next Month
In December, National Underwriter magazine and NU's E&S Extra e-newsletters will provide updates of the employment practices liability insurance market, with features focusing on retaliation claims and claims arising from workplace bullying.

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